Matson (NYSE:MATX) posted its quarterly earnings results on Thursday. The shipping company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.01, Briefing.com reports. Matson had a return on equity of 12.30% and a net margin of 4.15%. The firm had revenue of $572.10 million during the quarter, compared to analysts’ expectations of $574.44 million. During the same quarter in the previous year, the business earned $0.97 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis.
Shares of MATX stock traded down $1.30 during mid-day trading on Friday, hitting $38.54. The company’s stock had a trading volume of 292,735 shares, compared to its average volume of 154,958. Matson has a 52-week low of $30.60 and a 52-week high of $42.15. The business has a 50-day moving average price of $37.88 and a 200 day moving average price of $37.79. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 3.99 and a beta of 1.59.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Wednesday, November 6th. Matson’s dividend payout ratio is currently 34.78%.
In related news, SVP Rusty K. Rolfe sold 3,047 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $40.67, for a total transaction of $123,921.49. Following the completion of the sale, the senior vice president now owns 56,304 shares in the company, valued at $2,289,883.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vic S. Angoco, Jr. sold 16,100 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $35.14, for a total value of $565,754.00. Following the sale, the insider now owns 43,926 shares of the company’s stock, valued at approximately $1,543,559.64. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
Several research analysts have recently weighed in on MATX shares. ValuEngine upgraded Matson from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded Matson from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th.
Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.
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